ADP (Nasdaq: ADP), a leading global technology company providing human capital management (HCM) solutions, announced its second-quarter fiscal 2021 financial results and updated its fiscal 2021 outlook.
ADP’s Net earnings decreased 1% to $648 million, and adjusted net earnings decreased 1% to $650 million.
ADP’s Adjusted EBIT decreased 1% to $848 million, and adjusted EBIT margin declined 30 basis points to 22.9%.
ADP’s Diluted earnings per share (“EPS”) increased by 1% to $1.51 for the quarter; adjusted diluted EPS flat at $1.52.
Adjusted EBIT decreased 1% to $848 million, representing an adjusted EBIT margin reduction of 30 basis points in the quarter to 22.9%, as transformation initiatives and disciplined operating expense management largely offset the effects of lower client funds interest revenue and higher depreciation and amortization.
ADP’s effective tax rate for the quarter was 22.2% on a reported and an adjusted basis. Diluted EPS increased by 1% to $1.51, and adjusted diluted EPS were flat at $1.52 as slightly lower net earnings were offset by a net share count reduction.
Adjusted EBIT, adjusted EBIT margin, adjusted net earnings, adjusted diluted earnings per share, adjusted effective tax rate and organic constant currency are all non-GAAP financial measures.
Source: investors.adp.com
